The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Do you have to split your estate evenly between your children? Aug 23rd
A will is intended to outline your final wishes. But, sometimes an estate can be contested, and the courts can overturn the terms of a will and distribute the assets differently.
A good example is that of Pascuzzi v. Pascuzzi, a case recently heard by the Supreme Court of British Columbia. .... More »
Pot firms Canopy, Aurora are making money – at a steep price - Article - BNNBloomberg.ca + MORE Feb 15th
Pot firms Canopy, Aurora are making money – at a steep price - Article BNNBloomberg.caCanopy Growth beats earnings estimates on soaring revenue in first quarter since legalization The Globe and MailCanopy Growth’s revenue, losses both soar Globalnews.caCanopy gai.... More »
Is now the time for retirees to sell stocks and buy GICs? + MORE Aug 10th
Ask MoneySense
My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen
.... More »
CIBC hikes dividend despite 11 per cent profit drop + MORE Feb 28th
The Canadian Imperial Bank of Commerce hiked its dividend as it reported its first-quarter profit fell 11 per cent to $1.18 billion, missing expectations..... More »
Wealthsimple-X deal sparks investor risk concerns + MORE Apr 20th
A new partnership Wealthsimple has struck with social media platform X could greatly expand the finance company’s reach—but some critics are raising concerns about the risks for investors.
Through the partnership launched this week, Wealthsimple customers who have its app on their p.... More »
RRSP facts and guidance for 2017
– myownadvisor.ca
Save, invest, prosper with My Own Advisor.The “RRSP season” is now in full swing but it’s important to know the ins and outs of this tax-deferred plan in order to optimize the use of this account for your financial situation. You’ll notice I didn’t write “time to buy RRSPs”. You don’t buy RRSPs friends…
Today’s post will remind you about some RRSP facts, why the RRSP is a powerful savings vehicle, why you might want to take advantage of it (and what to avoid), and share our longer term game plan for this account – for what that’s worth. Happy to hear all comments and critiques!
RRSP Fast Facts for 2017
When to contribute? The RRSP contribution deadline for the 2016 tax year is March 1, 2017. You should know this deadline is always 60 days after the end of the previous calendar year. This means RRSP contributions made in the first 60 days of 2017 can be applied to the 2016 tax year. (Note: we do this).
Who can contribute? There is no minimum age requirement to have an RRSP; a minor can set one up thanks to their parent or legal guardian…
Ten top RRSP questions answered
– macleans.ca
(Shutterstock)It’s that time of year again. RRSP season is upon us and before that March 1 deadline approaches, plenty of Canadians have questions about contributions, withdrawals and do’s and don’ts. Luckily, our experts have answered a lot of RRSP queries over the years. Are they a total waste of time? What happens if you over-contribute? How much money should you have in your account? Our friends at MoneySense have some answers.
Q: Are RRSPs ever a waste of time?
A: So, you have a Defined Benefit pension and don’t think RRSPs are worth your time? Depending on the situation (like if your spouse is out of work, or if they are in a lower tax bracket than you), contributing to an RRSP might be a great idea even if you have enough retirement savings. Here’s why.
Q: What are the differences between RRSPs and TFSAs?
A: The biggest differences are contribution limits, and how your money gets taxed upon withdrawal from the accounts. RRSP contributions are tax-deductible, whereas TFSA withdrawals are tax-free…
